Business News

As NAFTA talks begin, Trump's 'America First' agenda looms large

WASHINGTON (Reuters) - As the United States, Canada and Mexico kick off negotiations on Wednesday to modernize the North American Free Trade Agreement, the biggest uncertainty is whether a deal can pass President Donald Trump's "America First" test. Trump has blamed NAFTA for shuttering U.S. factories and sending U.S. jobs to low-wage Mexico. The test will be whether negotiators can prove that a new NAFTA agreement c...

16 Aug 8:55 AM 0 Read More...

Hedge fund Elliott raises stake in BHP in push for change

MELBOURNE (Reuters) - Hedge fund Elliott Management has raised its stake in BHP Billiton (BHP.AX) (BLT.L) to 5 percent, bolstering its position to agitate for change at the top global miner, but signaled its support for the incoming chairman. New York-based Elliott launched its effort in April, at which point it held a 4.1 percent "economic interest" in BHP's UK-listed shares, calling for the company to quit all or p...

16 Aug 8:55 AM 0 Read More...

Exclusive: China's Belt and Road acquisitions surge despite outbound capital crackdown

HONG KONG (Reuters) - Mergers and acquisitions by Chinese companies in countries that are part of the Belt and Road initiative are soaring, even as Beijing cracks down on China's acquisitive conglomerates to restrict capital outflows. Chinese acquisitions in the 68 countries officially linked to President Xi Jinping's signature foreign policy totaled $33 billion as of Monday, surpassing the $31 billion tally for all ...

16 Aug 8:55 AM 0 Read More...

Fiat Chrysler joins autonomous driving team of BMW, Intel, Mobileye

SAN FRANCISCO (Reuters) - Fiat Chrysler is joining the self-driving alliance led by BMW Group, Intel Corp and its Mobileye subsidiary, becoming the second automaker in the year-old group to opt to partner in developing an autonomous driving platform. More automakers are seeking alliances to share the high costs of developing self-driving vehicle technology, which requires extensive research and development and softwa...

16 Aug 8:55 AM 0 Read More...

Dollar revived by U.S. data tonic, North Korea respite

SYDNEY (Reuters) - The dollar hoarded hefty gains on Wednesday after strong U.S. retail data put a Federal Reserve rate hike back on the agenda, while Asia stocks inched ahead as tensions in the Korean peninsula simmered down a little. North Korean leader Kim Jong Un has delayed a decision on firing missiles towards Guam while he waits to see what the United States does, as Washington said any dialogue was up to Kim....

16 Aug 3:50 AM 0 Read More...

NAFTA negotiators aim for 'ambitious' start to talks: U.S. official

WASHINGTON (Reuters) - Negotiators from Canada, Mexico and the United States are aiming for an "ambitious" first round of trade talks, a senior U.S. official said on Tuesday, as the countries try to fast-track a deal to modernize the 23-year-old pact by early next year. The United States Trade Representative official, speaking on a conference call with reporters, said the sides would begin to merge proposed texts dur...

16 Aug 3:50 AM 0 Read More...

Wall Street ends flat; economic data offsets retailer results

(Reuters) - U.S. stocks ended little changed on Tuesday as declines in Home Depot and other retailers following results offset upbeat U.S. retail sales data. Home Depot's (HD.N) stock was down 2.7 percent and was the biggest drag for both the S&P 500 and Dow. Although the home improvement chain reported strong earnings and raised its forecast, investors appeared to be worried about supply constraints in the ...

15 Aug 10:49 PM 0 Read More...

Americans' debt level notches a new record high

NEW YORK (Reuters) - Americans' debt level notched another record high in the second quarter, after having earlier in the year surpassed its pre-crisis peak, on the back of modest rises in mortgage, auto and credit card debt, where delinquencies jumped. Total U.S. household debt was $12.84 trillion in the three months to June, up $552 billion from a year ago, according to a Federal Reserve Bank of New York report pub...

15 Aug 5:49 PM 0 Read More...

Wall Street little changed as discretionary stocks weigh

(Reuters) - Wall Street was little changed in early afternoon trading on Tuesday as losses in Home Depot and other consumer discretionary stocks limited gains on the S&P and the Dow. Home Depot's (HD.N) 3.9 percent fall weighed the most on the two major indexes. Although the home improvement chain reported strong earnings and raised its forecast, investors appeared to be worried about supply constraints in the ho...

15 Aug 5:49 PM 0 Read More...

Strong U.S. retail sales bolster third quarter growth outlook

WASHINGTON (Reuters) - U.S. retail sales recorded their biggest increase in seven months in July as consumers boosted purchases of motor vehicles and raised discretionary spending, suggesting the economy continued to gain momentum early in the third quarter. Retail sales for June and May also were revised higher, which should help to assuage concerns about consumer spending after a slowdown at the start of the year. ...

15 Aug 5:49 PM 0 Read More...